All Forum Posts by: Lydia S.

@Danny Mak. A discussion with this lender should get the answer however until you lock in the rate it can fluctuate.

Contact other lenders for quotes.  The interest rate is not the only number that should matter to you, as origination fees, processing fees, etc. will vary between lenders and may make a bigger difference ultimately.

@J Acosta

I might add that the scammers are also on Craigslist, so before handing over any earnest money check, be sure they are the rightful owner.  Title will help with this.

@Jayson Wolfe

If you have an existing agreement, read what it says as it will outline the obligations and your options.

@Brenden Mitchum

I would suggest that you reiterate your conversations with the seller via email, cc’ing the listing agent so everything is known to all parties and in writing.  

The realtor should be aware of all conversations and may need to put something in an amendment to the contract if you and the seller are making agreements about something which really needs to be contractual.

Consider what will happen if these verbal negotiations about the roof, etc. suddenly become a ‘he said, she said’ situation and good graces vanish between you and the seller.

@Cory Lucas

Sounds like you have a good thing going!  I say don’t burn that bridge.

@Brint DeVilling

I would say you should definitely let Beth know about this offer on another property as your Realtors need to know your financial circumstances to move forward. Can you afford to buy both properties at the same time? Do you have the EM, inspection and appraisal costs, closing costs and down payment for both? Is one OO and one investment? Do your lenders know this? Etc. Or is one deal going to die mid-transaction if you go under contract on both?

I would want to know up front and as your Realtor who is obligated to honesty and disclosure to you, require the same in return from my clients.

@Brandon McMullin

Are you saying the owner is willing to just walk away from the property without any income?  You said there is no down payment.  

Or is the home staying in her name?  If so, is she responsible for damages and repairs caused by your tenants, or are you?

@Morgan Granger

At open houses, I run on instinct, just talking and finding out what the visitor needs, what they’re looking for, what brought them to the open house, how they search for houses currently, and then if they are responding and are willing to chat with me I ask if a Realtor is already helping them look or sending them properties.

If not, I offer an MLS search or phone app to send properties their way and start the follow up in the days to come... phone, text and email as seems appropriate for each particular person.

It really helps to go with a clear head and no expectations, and just be open to conversation and being helpful and being yourself!

@Morgan Granger

It can be done!  I got licensed after moving across the country and had zero, zip, zilch for a sphere, and held open houses both days of the weekend and sometimes even weekdays, spoke with people while walking my dog, attended investor meetings, and was a top producer in my Brokerage after 1 year.

It’s truly all in the follow up and was getting referrals by my 2nd year as well.

Just keep building relationships and talking to people!  Meet with lenders and build those relationships as well and they might send you an occasional lead too.

Either spend time getting leads, or money marketing yourself.  I chose to spend time and actually meet people face to face.

@Denise White

My questions are: how did the escrow agent know if there was another offer on your home, and why would they think that meant it was no longer available if the original buyer was under contract... makes no sense to me so maybe you can explain a bit more.  Was that second offer a back up contract and executed?  Or just an unsigned offer? 

Also, if the closing didn’t happen by the amended closing date, what does your contract and state laws say happens?  Unless a new extension was signed by both parties, the contract is expired.

I suspect the buyers never mentioned they signed a buyer broker agreement with anyone so this new Realtor probably has no idea.  Definitely time to speak with your Broker for answers to all of your concerns.